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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 24
April 2009 |
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| Malaysia’s
Sime Darby Berhad’s 496-key Hotel Equatorial Melaka is
currently up for sale and could potentially fetch approximately
US$50 million or around US$100,800 per key. The sale is in line
with the group’s intention to sell non-core businesses.
Located in Bandar Hilir in the heart of Malacca, the hotel posted
an average occupancy of more than 60% and an average room rate
of US$50, generating approximately US$10 million in revenue
and US$3.1 million earnings before interest, tax, depreciation
and amortisation in end June 2008. Hotel Equatorial Melaka is
positioned as a five-star property with 22 storeys and three
basement floors, seven food and beverage outlets and a 1,300-seat
ballroom. |
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| Litolier
Group has announced its entry into the Indian hospitality sector
with the opening of its first hotel, Ramada Plaza New Delhi.
The hotel group has invested around US$20 million for its New
Delhi hotel which has 419 guestrooms. The group also has plans
to open another two hotels in Mumbai and Goa. The Mumbai hotel
is expected to have around 350 rooms. |
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| Radisson
Hotels and Resorts has announced the opening of the 270-room
Radisson Plaza Hotel Tianjin in Tianjin, China. The hotel is
a joint investment between Tianjin Urban Construction Group
and Hong Kong’s First Eastern Investment Group. Located
on Xinkai Road, west of Tianjin Railway Station and east of
Tianjin Airport, Radisson Plaza Hotel Tianjin is located in
the new financial hub of Hedong District. The 23-storey hotel
features three executive floors and an executive lounge on the
top floor, five food and beverage outlets, including three restaurants
and two bars, a spa, a health club and an indoor heated pool. |
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| The
Hong Kong authorities have agreed to allow a 14-day visa-free
access for Russian tourists, in an effort to promote Hong Kong
to short-haul destinations amidst the global economic downturn.
Visitor arrivals from Russia exceeded 37,000 in 2008, reflecting
a 13% growth from 2007. The authorities are also looking to
cooperate with Hainan Island and other Chinese provinces to
promote multi-destination itineries with Hong Kong. In 2009,
Hong Kong is forecast to welcome 29 million visitor arrivals,
a 1.6% decline from 2008. |
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| Kingdom
Holdings Company (Kingdom) has announced that it has secured
the relevant approval from the Singapore authorities to expand
the landmark Raffles Hotel. With a 58.1% controlling stake in
Fairmont Raffles Hotels International (Fairmont), Kingdom announced
that the expansion involves the addition of 78 rooms. On another
front, Kingdom also announced the completion of the US$171 million
renovation of London’s Savoy hotel. The iconic hotel is
scheduled to open in the latter part of 2009 and will be managed
by Fairmont. |
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| The
Board of Investments (BOI) has given the approval for the construction
of a 75-key luxury hotel in Kandy, Sri Lanka. Located on a site
formerly occupied by Odeon Theatre and costing US$6.8 million,
the development will be implemented by Canora Hotels Private
Limited. Construction is scheduled to commence in 2009 and the
hotel is likely to be opened by 2012. The development is envisaged
to cater to tourists visiting Kandy during the Esala Perehera
and other sports events. |
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Absolute
Share Price Performance, as at 24 April 2009 |
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Closing Share Price as at |
24
April 2009 |
17
April 2009 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
3.98 |
4.15 |
-4% |
| General
Property Group |
0.42 |
0.53 |
-21% |
| Mirvac
Group |
0.97 |
1.18 |
-18% |
| Ocean
Capital Limited |
0.30 |
0.30 |
– |
| Thakral
Holdings Group |
0.26 |
0.28 |
-7% |
| Living
and Leisure Australia Group |
0.02 |
0.03 |
-15% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.10 |
3.04 |
2% |
| Dusit
Thani Public Co Ltd |
19.30 |
20.80 |
-7% |
| The
Erawan Group Public Limited |
1.29 |
1.23 |
5% |
| Grande
Asset Development |
1.51 |
1.51 |
– |
| Laguna
Resorts & Hotel Public Co Ltd |
27.00 |
26.00 |
4% |
| Minor
International PCL |
6.75 |
6.20 |
9% |
| China
Shanghai Stock Exchange (RMB) |
| Shanghai
Jinjiang International Hotels Development |
16.15 |
15.60 |
4% |
| Beijing
Capital Tourism Co Ltd |
17.15 |
17.66 |
-3% |
| Jinling
Hotel Corporation Ltd |
6.40 |
6.36 |
1% |
| China
Shenzhen Stock Exchange (RMB) |
| Hunan
Huatian Great Hotel Co Ltd |
11.36 |
11.20 |
1% |
| Guangzhou
Dong Fang Hotel Co Ltd |
5.94 |
5.50 |
8% |
| Shenzhen
Century Plaza Hotel Co Ltd |
4.07 |
4.05 |
– |
| NASDAQ
(US$) |
|
Home Inns & Hotels Management Inc |
13.40 |
13.07 |
3% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
5.90 |
5.80 |
2% |
| Regal
Hotels International Holdings Ltd |
1.60 |
1.62 |
-1% |
| Sino
Hotels Holdings Ltd |
2.50 |
2.41 |
4% |
| The
Hong Kong & Shanghai Hotels Ltd |
6.09 |
6.16 |
-1% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.24 |
0.25 |
-4% |
| ART
Management Pte Ltd |
0.50 |
0.47 |
5% |
| Banyan
Tree Holdings Limited |
0.38 |
0.40 |
-5% |
| CDL
HTrust |
0.56 |
0.59 |
-5% |
| Hotel
Grand Central Ltd |
0.56 |
0.54 |
4% |
| Hotel
Plaza Ltd |
0.93 |
0.94 |
-1% |
| Hotel
Properties Ltd |
1.04 |
1.08 |
-4% |
| Mandarin
Oriental International Ltd (US$) |
1.01 |
0.94 |
7% |
| Shangri-La
Asia Ltd (HK$) |
10.94 |
11.60 |
-6% |
| Stamford
Land |
0.26 |
0.28 |
-7% |
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Return to Headlines |
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| Disclaimer:
Information provided above has been gathered from various market sources.
HVS has not independently verified the accuracy of the information
provided. Interested parties should not rely on the information as
statement of facts and are advised to make their own independent checks
to verify the information provided. For further information, please
feel free to contact HVS
Singapore. |
